TravelManagers offers strong protection amid Vanuatu’s flying challenges | kbnmart

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Protection in the face of financial instability

In the wake of the financial collapse of Vanuatu Airlines, Travel Managers demonstrated the effectiveness of the Credit Card Chargeback Insurance (CCCI) policy. This protection was crucial in protecting Personal Travel Managers (PTMs) and their clients from potential losses associated with credit card chargebacks. The sudden liquidation of Vanuatu Airlines left many travel advisors and clients in a precarious position. When a supplier fails to provide services due to insolvency, travel advisors acting as merchants can be held liable for the total cost if clients claim a refund. However, Travel Managers’ Credit Card Chargeback Insurance policy mitigated this risk, ensuring financial security for both advisors and clients.

Credit Card Chargeback Insurance Policy in Action

Grant Campbell, chief commercial officer at TravelManagers, said 13 personal travel managers with clients affected by the Air Vanuatu collapse were protected under the policy. To date, the policy has paid out more than $30,000 in claims, ensuring no losses from credit card chargebacks related to the collapse.

“This policy has ensured that we have not suffered any losses as a result of credit card refunds following the financial collapse of Air Vanuatu,” Campbell added.

The importance of consumer and agent protection

The recent financial troubles of Rex Airlines highlight the ongoing risks in the travel industry, underscoring the need for robust protection for consumers and agents. Campbell said Travel Managers is currently the only travel company in Australia to offer such comprehensive protection, making it a vital safety net for travel advisors.

“Without a credit card chargeback insurance policy in place – and we believe TravelManagers is the only travel company in Australia that offers this protection – there is little we can do to protect ourselves from this risk,” he noted.

Real life experiences

New Personal Travel Manager Bianca Arts shared her experience, emphasizing the value of the protection TravelManagers provide. Initially, she did not realize the importance of such measures, but now considers them vital, especially after facing the Air Vanuatu bankruptcy early in her career.

“Unfortunately, travel companies going bankrupt is nothing new, and dealing with such a situation was my biggest fear when starting my own business,” said Artz. “While it wasn’t great to have it happen in the first six months, I’m very grateful that TravelManagers provides this protection.”

Darren Christensen, another personal travel manager, expressed similar sentiments. Having dealt with financial failures of established suppliers twice, he praised the risk mitigation measures TravelManagers took to protect his clients and his business.

“Any travel advisor’s worst nightmare is having to tell a client that their money has been lost because a supplier has failed financially,” Campbell added. “TravelManagers’ industry-leading consumer protection, which also protects agent commissions, ensures that such conversations never happen.”

Looking forward

TravelManagers continues to lead the industry with its commitment to protecting consumers and agents. By maintaining comprehensive insurance policies and risk mitigation strategies, it provides unparalleled security and peace of mind to its personal travel managers and clients.